Amazon set to launch credit card in Brazil with Bradesco
Amazon is strategically expanding its footprint in the financial services sector, reaching beyond its e-commerce roots to offer credit lines in various countries. In a significant move, Amazon.com is preparing to launch a credit card in Brazil by collaborating with Banco Bradesco SA, a leading Brazilian lender.
This partnership underscores Amazon's determination to enhance its fintech offerings and provide customers with an extended range of financial solutions.
Scheduled to debut next Tuesday, the Amazon credit card will be powered by Mastercard and managed in terms of credit risk by Banco Bradesco.
While specific details concerning loyalty rewards and credit limits are eagerly anticipated, this venture represents a pivotal step in Amazon's mission to elevate the shopping experience for Brazilian consumers.
Notably, this expansion mirrors Amazon's existing credit card services in the United States, where it has partnered with JPMorgan Chase.
The move into credit lines aligns with a growing trend among non-financial corporations to explore innovative avenues for growth, leveraging their established presence and customer base to offer financial services that complement their core business offerings.
Become a Techloy member.
Join 20,000+ subscribers getting the latest business, career, and financial information in the technology industry across emerging markets globally.
Delivered to your inbox, every week(end). Unsubscribe anytime. Please check your junk email folder, if it doesn't arrive in your inbox.